Sainsburys underwriter loses the plot

[Rawlings135]

My ex husband walked out 3 yrs ago leaving me to pay a hefty joint loan on my own.

The payments per month are £298. per month.

I have just received a court order with a financial settlement of me paying the rest of the loan off in exchange for the family home.

 

I must get his name off the Sainsburys loan within 28 days otherwise I could go to prison (scary when you have 2 children).

 

I rang up Sainsburys to get apply for a loan and was refused on the basis of my credit score which incidently is 999 with experian.

I have never missed a payment with any of my finance/mortgage.

 

The new loan I was offered on application was £82 per month.

I was told to put a report together, a copy of my credit report/bank statements/decree absolute etc and send it to the underwriter which I did.

 

The underwriter has refused it again on the basis of my £200,000 mortgage even though I am selling the property next year and I have £160,000 equity in my home.

 

So Sainsburys would rather I go to prison and not be able to pay anything whilst in there and struggle paying £298 per month,

than pay £82 per month and get all of there money next year!!! Something very wrong somewhere!!

 

Oh and the help they give is absolutely zero.... Do not go near them with a barge pole.....

Edited July 26, 2012 by citizenB
formatting for easier reading

[citizenB]

I think I have lost the plot as well.

 

I am not quite sure why a Court order has been issued - are the loan payments up to date, or has there been a default?

 

I am also not sure why you have been threatened with prison - this is most unusual for a consumer credit debt.

 

I will flag your thread for the attention of those with more knowledge, for you.

 

Meanwhile if you could post up more information that you think might help, that would be great.

[Rawlings135]

I think I have lost the plot as well.

 

I am not quite sure why a Court order has been issued - are the loan payments up to date, or has there been a default?

 

I am also not sure why you have been threatened with prison - this is most unusual for a consumer credit debt.

 

I will flag your thread for the attention of those with more knowledge, for you.

 

Meanwhile if you could post up more information that you think might help, that would be great.

 

The court order was issued aspart of the divorce settlement

Basically I have to finish paying off the joint loan

And I get the marital home! The court order says that I have

28 days to get his name off of both or the court can send me

To prison! I have never defaulted on payment on anything! My credit score is excellent and according to experian my ex has an IVA and as I am financially assiciated with him he is making my score look bad??

[citizenB]

Ah right. I have alerted site team for you, although it might be a bit later in the day before anyone looks in on you.

[Lea_HTH]

Sounds like a consent order - breach it and you can be sent to prison.

 

You should apply to the court immediately for a variation. You ought not to have agreed to this unless you already had the finances to discharge your part of the order in place. Were you in receipt of legal advice?

 

My suggestion would be that you contact a local law centre and speak to a solicitor.

[Lea_HTH]

One other suggestion would be to ask the mortgagee to increase their loan to you to discharge the second loan - but that will only work if you earn sufficient to support that level of mortgage.

[Rawlings135]

One other suggestion would be to ask the mortgagee to increase their loan to you to discharge the second loan - but that will only work if you earn sufficient to support that level of mortgage.

 

Sainsburys have picked up on my posts on forums

Today and are investigating! Not getting my hopes up

But they are ringing me (aledgedly) tomorrow at 12.30!

I do have a solicitor! I think my only option will be to eventually sell the family home and get a smaller property!

This will enable me to pay off all debt and get rid of the ex forever!!

[IdaInFife]

Hi rawlings can you expand on how they have picked up your posts ? what have they said?

[citizenB]

Is a Credit Union an option?

 

This could be worth a try!

[Old Cogger]

Hi rawlings can you expand on how they have picked up your posts ? what have they said?

 

 

Any response???